Common use of Current Practices Clause in Contracts

Current Practices. The Ceding Company shall not change, alter or otherwise compromise, and shall not allow any subcontractor to change, alter or otherwise compromise, its claims paying or administrative practices with respect to the Reinsured Contracts without the prior written consent of the Reinsurer, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that no such consent of the Reinsurer is required for any change or alteration in its claims paying or administrative practices if such change or alteration is also being made with respect to variable annuity contracts of the Ceding Company that are not reinsured hereunder or reinsured to a third party under any other agreement. At the reasonable request of the Reinsurer, the Ceding Company shall provide to the Reinsurer information relating to any changes, alterations or compromises that do not require the Reinsurer’s consent under this Section 4.2.

Current Practices. The Ceding Company shall not change, alter or otherwise compromise, and shall not allow any subcontractor to change, alter or otherwise compromise, its claims paying or other material administrative practices with respect to the Reinsured Contracts without the prior written consent of the Reinsurer, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that no such consent of the Reinsurer is required for any change or alteration in its claims paying or other material administrative practices if such change or alteration is also being made with respect to variable annuity contracts of the Ceding Company that are not reinsured hereunder or wholly reinsured to a third party under any other agreement. At the reasonable request of the Reinsurer, the Ceding Company shall provide to the Reinsurer information relating to any changes, alterations or compromises that do not require the Reinsurer’s consent under this Section 4.24.02.